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Six money managers examine portfolio management strategies in the latest issue of The Wall Street Transcript, available at (212/952-7433) or http://www.twst.com/info/info550.htm

TWST: Could you begin with a brief overview of Banknorth Investment Management and your responsibilities there?

Mr. White: Banknorth Investment Management Group is the investment management subsidiary of Banknorth Group. Our footprint covers most of New England and part of northeastern New York State. We are a combination of the investment management operations of the various banks that have joined over the past decade to form Banknorth Group. In total we oversee in excess of 8 billion, over 4 billion of which is actively managed by our portfolio managers. We have 25 investment professionals scattered over the six states in which we do business.

TWST: Do you have an overall investment philosophy for the firm?

Mr. White: Our investment approach focuses on the core philosophy. The funds themselves evolved from pooled investment funds that existed at some of the constituent banks prior to the mergers. The Large Cap Core Fund has been in existence as a mutual fund for over four years, while the Value Fund, Growth Fund and Small/Mid Cap Core Fund were created 18 months ago. Each fund is managed in line with the style suggested by its name, but each one takes advantage of our established investment process, which blends both value and growth approaches.

TWST: Do you invest in any biotech or specialty pharmaceutical areas in your Small/Mid Cap Core Fund?

Mr. White: We have in the past, but at this point we’re de-emphasizing those areas. We see far too many emerging problems in the pharmaceutical and biotech areas, in terms of weaknesses in the research pipeline and regulatory and political issues, to want too much exposure there.

TWST: Are there any other companies that might illustrate your diversification of the Fund?

Mr. White: One company we’ve held for about a year that’s not too commonly known is Banta (NYSE:BN). Their primary business is on the printing and graphic arts side of things. They print general publication and educational books, magazines, a number of catalogs, and specialty items. They also are very active in supply chain management, particularly for technology companies, providing fulfillment services for clients such as Compaq and Microsoft on an international basis.

TWST: What are the specific characteristics that you look for in potential investments? Could you expound on your investment decision-making process?

Mr. White: We are primarily top-down driven, but with a bottom-up emphasis on company quality. Our intent is to construct a portfolio of better quality companies that have the potential to become more significant contributors to the world and national economies in the next five years. We place more emphasis on portfolio construction and the exposures within the portfolio than we do on individual stock selection or valuation. One thing that may differentiate us from many other investors is that a good part of our effort goes into avoiding the problem holdings rather than picking winners. The performance problems that will affect portfolios over the next three months are in those portfolios today. If we are capable of identifying and reducing the extent of the exposure before they become problems, overall results will be far more attractive. What has really helped our performance over the past year or so is that some of the major casualties have had only modest impact on our portfolios.

This special Investing Strategies Report includes:

1) Peter F. Ganucheau IV, Principal, Portfolio Manager/Analyst with GSB Investment Management, Inc., examines portfolio management strategies in this timely and deeply informative 11,400-word interview from The Wall Street Transcript.

2) William J. DeRosa Jr., Portfolio Manager with Badgley, Phelps and Bell, Inc., examines portfolio management strategies in this timely and deeply informative 4,500-word interview from The Wall Street Transcript.

3)Jonathan W. White, Senior Vice President and Chief Investment Strategist for Banknorth Investment Management Group, examines portfolio management strategies in this timely and deeply informative 3,100-word interview from The Wall Street Transcript.

4) Geoffrey R.B. Carey and Jane W. Korhonen, both Partner and Senior Portfolio Managers at Brown Investment Advisory & Trust Company, examine portfolio management strategies in this timely and deeply informative 3,500-word interview from The Wall Street Transcript.

5) Richard H. Earnest, Director for HighMark Capital Management, examines portfolio management strategies in this timely and deeply informative 4,900-word interview from The Wall Street Transcript.